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Definition of Policy Date
date on which the insurance company assumes responsibilities for the obligations outlined in a policy.
A monetary policy of matching wage and price increases with money supply increases so that the real money supply does not fall and push the economy into recession.
date on which particular news concerning a given company is announced to the public.
A policy designed to increase an economy's prosperity at the expense of another country's prosperity.
A date before maturity, specified at issuance, when the issuer of a bond may retire part of the bond
Decreasing inflation by immediately decreasing the money growth rate to a new, low rate. Contrast with gradualism.
Procedures followed by a firm in attempting to collect accounts receivables.
Procedures to collect and monitor receivables.
A federal Act
The dates when the coupons are paid. Typically a bond pays
Standards set to determine the amount and nature of credit to extend to customers.
date dividend checks are mailed.
date on which holders of record in a firm's stock ledger are designated as the recipients of
Treating cash flows as being received on exact dates - date 0, date 1, and so forth - as
The date on which a firm's directors meet and announce the date and amount of the next
The date on which the board of directors has declared a dividend.
A company’s stated goal for how soon a customer order will be
Demand Management Policy
Fiscal or monetary policy designed to influence aggregate demand for goods and services.
A policy that is a conscious, considered response to each situation as it arises. Contrast with policy rule.
An established guide for the firm to determine the amount of money it will pay as dividends.
This policy governs Canada Life's actions regarding distribution of dividends to policyholders. It's goal is to achieve a dividend distribution that is equitable and timely, and which gives full recognition of the need to ensure the ongoing solidity of the company. It also specifies that distribution to individual policyholders must be equitable between dividend classes and policyholder generations, and among policyholders within any class.
In an interest rate swap, the date the swap begins accruing interest.
The first day of trading when the seller, rather than the buyer, of a stock will be entitled to
date that determines whether a stockholder is entitled to a dividend payment; anyone holding stock before this date is entitled to a dividend.
The date on which a share of common stock begins trading ex-rights.
The last day (in the case of American-style) or the only day (in the case of European-style)
The day on which the first option either expires or is extended.
The use of government spending and taxing for the specific purpose of stabilizing the economy.
A change in government spending or taxing, designed to influence economic activity.
In the Euromarket the standard periods for which Euros are traded (1 month out to a year out) are
The date on which holders of record in a firm's stock ledger are designated as the
A policy designed to lower inflation without reducing aggregate demand. Wage/price controls are an example.
Insurance Policy (Credit Insurance)
A policy under which the insurance company promises to pay a benefit of the person who is insured.
Usually the date when goods are shipped. Payment dates are set relative to the invoice date.
The date a security is first offered for sale. That date usually
date on which a policy is approved.
Joint Policy Life
One insurance policy that covers two lives, and generally provides for payment at the time of the first insured's death. It could also be structured to pay on second death basis for estate planning purposes.
A course of action adopted by a financial institution to guide and usually determine present and future decisions in the light of given conditions.
The date when the issuer returns the final face value of a bond
date on which a debt is due for payment.
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Actions taken by the central bank to change the supply of money and the interest rate and thereby affect economic activity.
A type of insurance policy or annuity in which the owner does not receive dividends.
The day the option is either exercised or expires.
A policy offers the potential of sharing in the success of an insurance company through the receipt of dividends.
The date on which each shareholder of record will be sent a check for the declared dividend.
The date established for the payment of a declared dividend.
Perfect market view (of dividend policy)
Analysis of a decision on dividend policy, in a perfect capital
A written document that serves as evidence of insurance coverage and contains pertinent information about the benefits, coverage and owner, as well as its associated directives and obligations.
Policy Acquisition Costs
Costs incurred by insurance companies in signing new policies, including expenditures on commissions and other selling expenses, promotion expenses, premium
Yearly event linked to a policy. Usually the date issued.
Policy asset allocation
A long-term asset allocation method, in which the investor seeks to assess an
This is an administrative fee which is part of most life insurance policies. It ranges from about $40 to as much as $100 per year per policy. It is not a separate fee. It is incorporated in the regular monthly, quarterly, semi-annual or annual payment that you make for your policy. Knowing about this hidden fee is important because some insurance companies offer a policy fee discount on additional policies purchased under certain conditions. Sometimes they reduce the policy fee or waive it altogether on one or more additional policies purchased at the same time and billed to the same address. The rules are slightly different depending on the insurance company. There could be enormous savings if several people in the same family or business were intending to purchase coverage at the same time.
Administrative charge included in a policy Premium.
Theory that anticipated policy has no effect on output.
A formula for determining policy. Contrast with discretionary policy.
Period between two policy anniversaries.
This is the person who owns a life insurance policy. This is usually the insured person, but it may also be a relative of the insured, a partnership or a corporation. There are instances in marriage breakup (or relationship breakup with dependent children) where appropriate life insurance on the support provider, owned and paid for by the ex-spouse receiving the support is an acceptable method of ensuring future security.
The person who owns and holds all rights under the policy, including the power to name and change beneficiaries, make a policy loan, assign the policy to a financial institution as collateral for a loan, withdraw funds or surrender the policy.
Projected maturity date
With CMOs, final payment at the end of the estimated cash flow window.
1) date by which a shareholder must officially own shares in order to be entitled to a dividend.
The date used to decide which shareholders will receive the dividend. The owners of the shares at the end of this day are entitled to the dividend.
The date on which payment is made to settle a trade. For stocks traded on US exchanges,
The date when money first changes hands; i.e., when a buyer
Signaling view (on dividend policy)
The argument that dividend changes are important signals to investors
Tax differential view ( of dividend policy)
The view that shareholders prefer capital gains over dividends,
Tax-Related Incomes Policy (TIP)
Tax incentives for labor and business to induce them to conform to wage/price guidelines.
In an interest rate swap, the date that the counterparties commit to the swap. Also, the date on
Traditional view (of dividend policy)
An argument that "within reason," investors prefer large dividends to
date on which valuation occurs.
In the market for Eurodollar deposits and foreign exchange, value date refers to the delivery date
Variable life insurance policy
A whole life insurance policy that provides a death benefit dependent on the
A procedure for making the effective date of a policy earlier than the application date. Backdating is often used to make the age of the consumer at policy issue lower than it actually was in order to get a lower premium.
Life insurance payable to the policyholder, if living on the maturity date stated in the policy, or to a beneficiary if the insured dies before that date. For example, some Term to age 100 policies offer the option of taking the face amount of the policy as a cash payout at age 100 if the policyholder is still alive and paying all required income taxes on the amount received or leaving the policy to pay out upon death whereupon the payout is tax free.
This clause in regular life insurance policy provides for voiding the contract of insurance for up to two years from the date of issue of the coverage if the life insured has failed to disclose important information or if there has been a misrepresentation of a material fact which would have prevented the coverage from being issued in the first place. After the end of two years from issue, a misrepresentation of smoking habits or age can still void or change the policy.
In England in the 1700's it was popular to bet on the date of death of certain prominent public figures. Anyone could buy life insurance on another's life, even without their consent. Unfortunately, some died before it was their time, dispatched prematurely in order that the life insurance proceeds could be collected. In 1774, English Parliament passed a law which restricted the right to be a beneficiary on a life insurance contract to those who would suffer an economic loss when the life insured died. The law also provided that a person has an unlimited insurable interest in his own life. It is still a legal stipulation that an insurance contract is not valid unless insurable interest exists at the time the policy is issued. Life Insurance companies will not, however, issue unlimited amounts of coverage to an individual. The amount of life insurance which will be approved has to approximate the loss caused by the death of the individual and must not result in a windfall for the beneficiary.
Age of an insured as at the policy issue date, using "age nearest" next birthday formula.
This refers to the termination of an insurance policy due to the owner of the policy failing to pay the premium within the grace period [Usually within 30 days after the last regular premium was required and not paid]. It is possible to re-instate the coverage with the same premium and benefits intact but the life insured will have to qualify for this coverage all over again and bring up to date all unpaid premiums.
After premiums have been paid for a number of years, further annual premiums may be paid by the current dividends and the surrender of some of the paid-up additions which have built up in the policy. In effect, the policy can begin to pay for itself. Whether a policy becomes eligible for premium offset, the date on which it becomes eligible and whether it remains eligible once premium offset begins, will all depend on how the dividend scale changes over the years. Since dividends are not guaranteed, premium offset cannot be guaranteed either.
This is a provision in some term insurance policies that allow the insured the right to renew the policy at a more favourable rate by providing updated evidence of insurability.
Generally, a suicide clause in a regular life insurance policy provides for voiding the contract of insurance if the life insured commits suicide within two years of the date of issue of the coverage.
Temporary Life Insurance
Temporary insurance coverage is available at time of application for a life insurance policy if certain conditions are met. Normally, temporary coverage relates to free coverage while the insurance company which is underwriting the risk, goes through the process of deciding whether or not they will grant a contract of coverage. The qualifications for temporary coverage vary from insurance company to insurance company but generally applicants will qualify if they are between the ages of 18 and 65, have no knowledge or suspicions of ill health, have not been absent from work for more than 7 days within the prior 6 months because of sickness or injury and total coverage applied for from all sources does not exceed $500,000. Normally a cheque covering a minimum of one months premium is required to complete the conditions for this kind of coverage. The insurance company applies this deposit towards the cost of a policy at its issue date, which may be several weeks in the future.
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